Permian Basin Royalty Trust (PBT) to Issue Monthly Dividend of $0.02 on September 15th

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Friday, August 21st. Shareholders of record on Monday, August 31st will be paid a dividend of 0.0187 per share by the oil and gas producer on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st.

Permian Basin Royalty Trust has increased its dividend payment by an average of 0.1%per year over the last three years.

Permian Basin Royalty Trust Stock Up 0.7%

Shares of PBT opened at $34.31 on Friday. The company has a 50 day moving average of $28.66 and a two-hundred day moving average of $24.99. Permian Basin Royalty Trust has a twelve month low of $15.73 and a twelve month high of $35.50. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 98.03 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.The business had revenue of $4.18 million for the quarter.

Institutional Trading of Permian Basin Royalty Trust

Several large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in Permian Basin Royalty Trust during the 4th quarter valued at approximately $28,000. NewEdge Advisors LLC lifted its stake in shares of Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 1,304 shares during the period. CX Institutional lifted its stake in shares of Permian Basin Royalty Trust by 80.3% during the second quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 939 shares during the period. Bank of America Corp DE grew its holdings in shares of Permian Basin Royalty Trust by 27.0% during the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock valued at $162,000 after buying an additional 2,769 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Permian Basin Royalty Trust by 6.0% during the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock valued at $166,000 after buying an additional 558 shares during the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.